Dogecoin led a weekend rebound across major altcoins after an ETF filing from REX Shares and a softer macro reaction to U.S. jobs data.
According to CoinGecko, Dogecoin jumped 5.1% to trade around $0.22 over 24 hours, while TRON rose about 2.4% and XRP gained roughly 2%. The moves came after markets retreated briefly following Friday’s employment report and then recalibrated over the weekend.
Market participants told reporters the rebound looks partly like a correction to an initial overreaction. Stephen Gregory, founder of crypto trading platform Vtrader, said the pullback on Friday was an “overreaction” and called the fresh altcoin buying a sign that an alt‑season is brewing.
The rally found a focal point when REX Shares — an ETF issuer — announced plans for a Dogecoin exchange‑traded fund. ETF-related headlines have a way of concentrating investor attention: Nate Geraci, president of NovaDius Wealth Management, suggested on social media that the next two months could be “wild” for crypto ETFs, a comment that helped fuel speculation and trading activity.
TRON’s modest gains were tied to headline-grabbing activity involving founder Justin Sun and the WLFI token. Gregory said the episode reignited interest among retail and so‑called “degen” traders after the project temporarily blacklisted Sun’s wallet during a deposit test.
Broader market sentiment is also leaning constructive. Odds of a September rate cut are perceived to be above 90%, and renewed retail engagement could set the stage for a stronger fourth quarter — though analysts caution short‑term uncertainty remains given sticky core inflation and mixed jobs data.
Risk note: short‑term price swings in crypto can be extreme. ETF filings and social headlines often trigger rapid moves that are speculative in nature. This article is for information, not investment advice.
What to watch next: formal ETF filings and regulatory commentary, headline developments from major token founders, and upcoming macro prints (inflation and jobs) that will shape Fed expectations and liquidity flows.
Source: Decrypt. Read the original coverage for full details.